UK SaaS company Science Warehouse acquired by Advanced for £16 million

Science Warehouse, a UK-based SaaS company, has been acquired by enterprise software firm Advanced for £16 million.

Science Warehouse, founded in 2000, develops spend and procurement management software used in the private and public sector, including the NHS and universities.

“Public sector budgets are subject to incredible scrutiny and hence nearly all organisations rely on e-Procurement systems for spend efficiencies, compliance and adherence to corporate policy,” said Nick Wilson, Advanced’s managing director of public sector and healthcare.

“This addition to our portfolio offers significant value to our customers and will help us build upon the continued momentum we are currently achieving in local government and NHS trusts, as well as to other industry sectors.”

Advanced is on a campaign of acquisitions to grow its portfolio of cloud-based services. The cloud is “at the heart of our business vision,” said CEO Gordon Wilson (pictured).

“Online marketplaces are fast becoming integral to how buyers run their operations successfully, which we identified as a valuable piece within our ecosystem of innovative cloud solutions and with market growth predictions of up to 19%, a critical part of our ambitious plans,” he said.